Deutsche Bank Aktiengesellschaft Raises FOX (NASDAQ:FOXA) Price Target to $39.00

FOX (NASDAQ:FOXA) had its price objective increased by Deutsche Bank Aktiengesellschaft from $38.00 to $39.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 16.98% from the company’s previous close.

Several other equities research analysts also recently commented on FOXA. Citigroup raised FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Macquarie upped their price target on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Rosenblatt Securities restated a “neutral” rating and set a $34.00 price target on shares of FOX in a research note on Monday, April 15th. Finally, Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $40.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $34.42.

FOX Price Performance

FOXA stock traded up $0.18 during trading hours on Thursday, hitting $33.34. 1,492,728 shares of the stock traded hands, compared to its average volume of 3,294,399. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $30.43. FOX has a one year low of $28.28 and a one year high of $35.40. The company has a market cap of $15.83 billion, a P/E ratio of 19.75, a P/E/G ratio of 0.43 and a beta of 0.77.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Equities analysts forecast that FOX will post 3.18 earnings per share for the current year.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of FOX by 4.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 418,451 shares of the company’s stock valued at $14,248,000 after buying an additional 16,224 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in FOX by 39.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 220,722 shares of the company’s stock worth $6,902,000 after purchasing an additional 62,940 shares during the period. ProShare Advisors LLC raised its stake in shares of FOX by 11.5% in the 1st quarter. ProShare Advisors LLC now owns 63,745 shares of the company’s stock valued at $1,993,000 after purchasing an additional 6,559 shares during the period. Meeder Asset Management Inc. bought a new position in shares of FOX during the first quarter worth about $66,000. Finally, Forsta AP Fonden raised its position in FOX by 65.8% in the 1st quarter. Forsta AP Fonden now owns 177,900 shares of the company’s stock valued at $5,563,000 after buying an additional 70,600 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.